Progress Update Housing Needs Assessment Final Report: June - - PowerPoint PPT Presentation

Progress Update

 Housing Needs Assessment Final Report: June  Equitable Development Strategies, Proposed  Development Support Policies, Proposed  Zoning Revisions, Proposed  Housing Fund Recommendations, Proposed  Public Property Inventory, Due May 29th  Complications of COVID-19

1

What are the problems we are working to dissolve?

Inadequate housing supply for a growing population Disparities in access to housing and homeownership between white households and households of color Dramatic price increases at the neighborhood level

2

Housing Supply vs Housing Affordability

Ensure an adequate amount of new housing supply at all price points to support a growing population and increasing demand in high opportunity neighborhoods. Preserve existing affordable housing and work toward guaranteed minimum affordability standards for a share of new supply across all neighborhoods.

3

Critical Plan Elements

Support growth to provide for existing population + estimated annual population increase. Equitable Outcomes & Access to Opportunity Economically, Socially & Environmentally resilient and connected neighborhoods

4

Short-term Objectives

Define clear goals for new construction and preservation Establish 1-year and 5-year action strategies to pursue housing goals Re-engage the Affordable Housing Fund with collaborative funding partners

5

Areas of Focus

Support ownership and

• pportunities for wealth

creation among households

• f color.

Establish broad-based support for increasing supply across all neighborhoods and product types with guidance and accountability from neighborhood groups Calibrate incentives to meet market needs while establishing long-term affordability requirements.

6

Housing & COVID-19

 Systemic barriers to housing and economic security

are starkly evident in health outcomes.

 Full impact on the housing market will not be known

for another 6-12 months. Expect increased need for income restricted housing. Resident Resiliency support is critical.

 Access to healthy open space & mobility are

critical elements when planning for new housing supply

 Availability of financing for new construction may

be delayed for several months, slowing our ability to catalyze more housing supply.

7

Questions?

8